Bitfinex finishes maintenance (but hasn't re-opened trading yet...)

07 Jan, 2019
by David Robb
Bitfinex finishes maintenance (but hasn't re-opened trading yet...)

Bitfinex recently announced that its scheduled maintenance was completed successfully. The exchange claimed that it would soon go live again, but has delayed the reopening of trading.

This maintenance was first announced back in December, with the company claiming that it was migrating users' data over to new, safer and more reliable servers. These "bare metal" servers were provided by data security solutions firm Market Synergy. The migration meant that Bitfinex and its ERC-20 token exchange Ethfinex would be down for around 7 hours.

Many were suspicious of this maintenance, as such events have been previously accompanied by notable price action in the crypto market. BitMEX was one of the more high-profile cases where observers accused an exchange of using scheduled downtime to manipulate the market.

Read more: Why people are apprehensive about the upcoming Bitfinex downtime

Bitfinex announced that the maintenance had been completed successfully after the scheduled amount of downtime, and that trading would be open again "in 5 minutes time". Almost 15 minutes later, the exchange's Twitter account told followers that it was "going back into maintenance", and that markets wouldn't be opening right away.

Unsurprisingly, this backtracking and confusion was met with even more suspicion from the crypto community. Some observers seemed to believe that Bitfinex had been caught in a deliberate lie, and was likely attempting to manipulate the market, as predicted.

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Read more about: Bitfinex


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